Posted 12/18/2023, 4:41:17 AM
Presstonic Engineering Shares Debut at 94% Premium, Then Slip Slightly; IPO Was Oversubscribed 168 Times
- Presstonic Engineering shares debuted on NSE SME at ₹140 per share, a 94.4% premium over issue price of ₹72
- Shares slipped into red after strong opening, trading at ₹139 at 1010 IST, down 0.71%
- IPO was oversubscribed 168.25 times; price band was ₹72 per share
- Company makes infrastructure, metro rail, and signaling products for rail and metro rail sector
- IPO aims to raise ₹23.30 crore to invest in equipment, repay loans, meet working capital needs